Affordable housing reform

Meeting: 
MQT on 2014-11-19
Session date: 
November 19, 2014
Reference: 
2014/4336
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

With respect, I don't believe you provided an answer to question 2014/3713: 'You have said the higher rents charged through Affordable Rent would allow for continued investment to be available at a time of limited government grant for building more affordable housing. In the three full years since Affordable Rent was introduced in 2011 (2011-14), 23,027 affordable homes have been started in London. This compares to 43,362 affordable homes in the three years previous (2008-11). Why is Affordable Rent failing to deliver the level of affordable housing supply that was delivered during the previous programme?' Can you please provide a more detailed answer?

Answer

Answer for Affordable housing reform

Answer for Affordable housing reform

Answered By: 
The Mayor

The Affordable Rent model is enabling more homes to be built than would have been possible with the equivalent available grant.  A report published by the NAO confirms that only a third of the grant previously applied to housing delivery is required under the AR model, increasing housing supply for the available public funds.